Picton Mahoney Asset Management Invests $754,000 in Markel Group Inc. $MKL

Picton Mahoney Asset Management purchased a new position in shares of Markel Group Inc. (NYSE:MKL) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 395 shares of the insurance provider’s stock, valued at approximately $754,000.

Other large investors have also recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S increased its position in Markel Group by 172.8% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,683 shares of the insurance provider’s stock worth $3,217,000 after buying an additional 1,066 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Markel Group by 1.8% in the third quarter. Principal Financial Group Inc. now owns 547,188 shares of the insurance provider’s stock worth $1,045,947,000 after buying an additional 9,496 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Markel Group during the 3rd quarter worth about $2,104,000. Osaic Holdings Inc. boosted its stake in shares of Markel Group by 121.2% during the 2nd quarter. Osaic Holdings Inc. now owns 2,853 shares of the insurance provider’s stock worth $5,705,000 after acquiring an additional 1,563 shares in the last quarter. Finally, Rakuten Investment Management Inc. acquired a new position in shares of Markel Group during the 3rd quarter valued at about $46,738,000. Institutional investors and hedge funds own 77.12% of the company’s stock.

Insider Buying and Selling

In related news, CEO Simon Wilson sold 100 shares of the business’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $2,079.48, for a total value of $207,948.00. Following the sale, the chief executive officer owned 2,397 shares of the company’s stock, valued at $4,984,513.56. The trade was a 4.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven A. Markel sold 1,330 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $2,119.12, for a total value of $2,818,429.60. Following the completion of the sale, the director owned 60,368 shares in the company, valued at $127,927,036.16. This trade represents a 2.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.66% of the company’s stock.

Markel Group Stock Down 1.8%

Shares of MKL opened at $1,983.75 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average price of $2,078.10 and a two-hundred day moving average price of $2,024.74. The stock has a market cap of $24.96 billion, a price-to-earnings ratio of 11.69 and a beta of 0.77. Markel Group Inc. has a 12 month low of $1,621.89 and a 12 month high of $2,207.59.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MKL. Zacks Research cut shares of Markel Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Markel Group in a report on Monday, December 29th. Finally, Truist Financial raised their target price on Markel Group from $2,000.00 to $2,100.00 and gave the stock a “hold” rating in a research report on Friday, February 6th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $2,100.00.

Markel Group Company Profile

Markel Group (NYSE: MKL) is a diversified insurance holding company best known for underwriting specialty insurance products. Founded in 1930 and headquartered in Richmond, Virginia, the company provides a wide range of commercial property and casualty coverages tailored to niche and hard-to-place risks. Its underwriting operations focus on specialty lines across multiple industries, delivering customized policy structures, program administration, and claims management services for complex exposures.

In addition to primary specialty insurance, Markel operates reinsurance and alternative risk-transfer activities and manages invested assets derived from underwriting float.